lloyd blankfein, head of goldman sachs on with andrew ross sorkin. he said what i've been saying for a few weeks. austerity will cause economic headwinds. higher taxes are a medicine we can't turn away. i'm not in favor of higher taxes, but there are a lot of people down here who are arguing this is going to be a serious headwind for the stock market. here we are, by the way, on intraday. don't be too impressed with this downturn. this is a very small amplitude. it's 40 points. it's not statistically significant. we're drifting around right now, trying to figure out what the fiscal cliff is going to do. let me show you, we're getting projections for 2013 coming in. it's bulls and bears here. here's the bearish argument. it's what blankfein essentially was alluding to. although blankfein is bearish. the bears have been arguing american austerity is beginning at this point. higher taxes and less spending is a headwind. it's not a tailwind for stocks in 2013. on top of that, we're going to have slower growth in the u.s., or slow growth, i should say, an